Variable Capital Companies Act 2018 · 2020 Revised Edition · Part 6 · Management and Administration
82. Inspection of register
Feedback & supportDespite any duty of confidentiality or other restriction on the disclosure of information under any written law, common law or contract, a VCC must, on the request of —
VCC
“VCC” or “variable capital company” means a body corporate incorporated as such under this Act;
the manager of the VCC;
the custodian of the VCC (being a non‑umbrella VCC);
a public authority, or any person acting on behalf of a public authority, for the purpose of enabling the public authority to administer or enforce any written law; or
any person entitled to inspect the register of members of the VCC pursuant to an order of the Court,provide to that person or public authority any information in the register of members of the VCC, or allow that person or public authority to inspect the register.
Despite any duty of confidentiality or other restriction on the disclosure of information under any written law, common law or contract, a VCC must, on the request of a member of the VCC, provide to the member any information in the register of members of the VCC relating to that member, or allow that member to inspect any part of the register relating to that member.
register of members
“register of members” means a register of members kept by a VCC under section 81;
Despite any duty of confidentiality or other restriction on the disclosure of information under any written law, common law or contract, an umbrella VCC must, on the request of the custodian of a sub‑fund of the VCC, provide to the custodian any information in the register of members of the VCC relating to members holding shares issued in respect of that sub‑fund, or allow the custodian to inspect any part of the register relating to those members.
umbrella VCC
“umbrella VCC” means a VCC the constitution of which provides that it consists of, or is to consist of, 2 or more collective investment schemes, or words to that effect;
Any person or public authority allowed to inspect the register under subsection (1) may request the VCC to provide the person with a copy of the register, or any part of the register, on payment in advance of $1 or such lesser sum as the VCC requires for every page.
A member of a VCC or the custodian of a sub‑fund of a VCC may request the VCC to provide the member or custodian with a copy of any part of the register that relates to the member or a member of the VCC holding shares in respect of the sub‑fund (as the case may be), on payment in advance of $1 or such lesser sum as the VCC requires for every page.
sub-fund
“sub-fund” means a collective investment scheme that is part of an umbrella VCC;
The VCC must cause any copy requested under subsection (4) or (5) to be sent to the person, public authority, member or custodian within a period of 21 days (or such further period as agreed with the person, public authority, member or custodian) starting on the day immediately after the day on which the request is received by the VCC.
If any copy so requested is not sent within the period mentioned in subsection (6), the VCC and every officer of the VCC who is in default shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $400, and also to a default penalty.
officer
“officer”, in relation to a VCC or other corporation, includes —(a)any director or secretary of the corporation or a person employed in an executive capacity by the corporation;(b)a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and(c)any liquidator of the corporation (being a VCC or company) appointed in a voluntary winding up,but does not include —(d)any receiver who is not also a manager;(e)any receiver and manager appointed by the Court;(f)any liquidator appointed by the Court or by the creditors; or(g)a judicial manager appointed by the Court under Part 8A of the Companies Act 1967 (if applicable);
If subsection (1), (2) or (3) is contravened, the VCC and every officer of the VCC who is in default shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $1,000, and also to a default penalty.
default penalty
“default penalty” means a default penalty within the meaning of section 147;
In this section, “public authority” means —
the Government, including any ministry, department or agency of the Government, or an Organ of State;
ACRA;
MAS;
any other statutory body; or
any tribunal appointed under any written law.